In case you missed it, here is this week’s resource big news roundup.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) steadily fell this week after US economic reports showed that the country had the weakest manufacturing data in more than a decade. The contraction in the manufacturing sector suggests there will be weak non-farm employment numbers and weaker GDP numbers, according to CIBC Asset Manager Patrick Bernes. The news reawakened global recession fears for investors throughout the week. The index rallied on Friday after US data showed that there was moderate growth in September.
As for the S&P/TSX Venture Composite Index (INDEXTSI:JX), it fell in the first half of the week and rose for the second half. Nine of the 12 Toronto subgroups were up on Friday. Information technology stocks took the lead with a 0.8 percent gain followed by healthcare up 0.7 percent and consumer discretionary rose 0.4 percent. Dragging the index down was consumer staples by 0.3 percent, energy down 0.2 percent and financial slipping 0.1 percent.
In case you missed it, here is this week’s resource big news roundup:
- IsoEnergy Intersects 1.6 Percent U3O8 over 10.5m in Drill Hole LE19-28, Including 12.6 Percent U3O8 over 1.0m
- Steppe Receives an Additional US$5 Million Deposit Under Terms of Amended Gold Stream Agreement with Triple Flag and Repays Promissory Note
- Noble Mineral Exploration Inc. Announces Creation of Canada Nickel Company
- Nexus Gold Enters Letter of Intent for Potential Sale of Interest in Gold Project in Burkina Faso, West Africa
- Fidelity Minerals Arranges Sale of the Cerro Dorado Gold Plant for US$1,430,000
- Guyana Goldstrike Reports 47.6 g/t Au over 3 Metres within 9 Metres of 21.2 g/t Au at Marudi Gold Project, Guyana